diff --git a/lectures/french_rev.md b/lectures/french_rev.md index 9be6ef7a..da2bb018 100644 --- a/lectures/french_rev.md +++ b/lectures/french_rev.md @@ -4,7 +4,7 @@ jupytext: extension: .md format_name: myst format_version: 0.13 - jupytext_version: 1.16.2 + jupytext_version: 1.16.7 kernelspec: display_name: Python 3 (ipykernel) language: python @@ -90,13 +90,11 @@ These graphs show that during the 18th century but were substantially less than government expenditures during wars * In France, even in peace time, tax revenues were substantially less than government expenditures - - ```{code-cell} ipython3 --- mystnb: figure: - caption: "Military Spending in Britain and France" + caption: Military Spending in Britain and France name: fr_fig4 --- # Read the data from Excel file @@ -139,16 +137,15 @@ during those four wars. A remarkable aspect of figure {numref}`fr_fig4` is that despite having a population less than half of France's, Britain was able to finance military expenses of about the same amounts as France's. -This testifies to Britain's having created state institutions that could sustain high tax collections, government spending , and government borrowing. See {cite}`north1989`. +This testifies to Britain's having created state institutions that could sustain high tax collections, government spending , and government borrowing. See {cite}`north1989`. ```{code-cell} ipython3 --- mystnb: figure: - caption: "Government Expenditures and Tax Revenues in Britain" + caption: Government Expenditures and Tax Revenues in Britain name: fr_fig2 --- - # Read the data from Excel file data2 = pd.read_excel(dette_url, sheet_name='Militspe', usecols='M:X', skiprows=7, nrows=102, header=None) @@ -178,7 +175,6 @@ plt.tight_layout() plt.show() ``` - Figures {numref}`fr_fig2` and {numref}`fr_fig3` summarize British and French government fiscal policies during the century before the start of the French Revolution in 1789. @@ -224,10 +220,9 @@ Next we'll plot data on debt service costs as fractions of government revenues i --- mystnb: figure: - caption: "Ratio of debt service to taxes, Britain and France" + caption: Ratio of debt service to taxes, Britain and France name: fr_fig1 --- - # Read the data from the Excel file data1 = pd.read_excel(dette_url, sheet_name='Debt', usecols='R:S', skiprows=5, nrows=99, header=None) @@ -265,7 +260,6 @@ Figure {numref}`fr_fig1` shows that interest payments on government debt (i.e., But as we'll see in our next graph, on the eve of the French Revolution in 1788, the fiscal *law of gravity* that worked so well in Britain did not working very well in France. - ```{code-cell} ipython3 # Read the data from the Excel file data1 = pd.read_excel(fig_3_url, sheet_name='Sheet1', @@ -278,7 +272,7 @@ data1.replace(0, np.nan, inplace=True) --- mystnb: figure: - caption: "Government Spending and Tax Revenues in France" + caption: Government Spending and Tax Revenues in France name: fr_fig3 --- # Plot the data @@ -430,7 +424,7 @@ The next figure shows this --- mystnb: figure: - caption: "Index of real per capita revenues, France" + caption: Index of real per capital revenues, France name: fr_fig5 --- # Read data from Excel file @@ -466,7 +460,7 @@ amounts during the period form 1789 to 1799. --- mystnb: figure: - caption: "Spending (blue) and Revenues (orange), (real values)" + caption: Spending (blue) and Revenues (orange), (real values) name: fr_fig11 --- # Read data from Excel file @@ -512,7 +506,7 @@ of goods and services, including military goods and soldiers' pay. --- mystnb: figure: - caption: "Revenues raised by printing paper money notes" + caption: Revenues raised by printing paper money notes name: fr_fig24 --- # Read data from Excel file @@ -521,7 +515,7 @@ data12 = pd.read_excel(assignat_url, sheet_name='seignor', # Create a figure and plot the data plt.figure() -plt.plot(pd.date_range(start='1790', periods=len(data12), freq='M'), +plt.plot(pd.date_range(start='1790', periods=len(data12), freq='ME'), data12, linewidth=0.8) plt.gca().spines['top'].set_visible(False) @@ -529,7 +523,7 @@ plt.gca().spines['right'].set_visible(False) plt.axhline(y=472.42/12, color='r', linestyle=':') plt.xticks(ticks=pd.date_range(start='1790', - end='1796', freq='AS'), labels=range(1790, 1797)) + end='1796', freq='YS'), labels=range(1790, 1797)) plt.xlim(pd.Timestamp('1791'), pd.Timestamp('1796-02') + pd.DateOffset(months=2)) plt.ylabel('millions of livres', fontsize=12) @@ -575,7 +569,7 @@ Note that we use a log scale because the price level rose so much. --- mystnb: figure: - caption: "Price Level and Price of Gold (log scale)" + caption: Price Level and Price of Gold (log scale) name: fr_fig9 --- # Read the data from Excel file @@ -644,7 +638,7 @@ nearly met in one of these episodes than in the other two. --- mystnb: figure: - caption: "Real balances of assignats (in gold and goods)" + caption: Real balances of assignats (in gold and goods) name: fr_fig8 --- # Read the data from Excel file @@ -655,7 +649,7 @@ data7a = pd.read_excel(assignat_url, sheet_name='Data', # Create the figure and plot plt.figure() -h = plt.plot(pd.date_range(start='1789-11-01', periods=len(data7), freq='M'), +h = plt.plot(pd.date_range(start='1789-11-01', periods=len(data7), freq='ME'), (data7a.values * [1, 1]) * data7.values, linewidth=1.) plt.setp(h[1], linestyle='--', color='red') @@ -736,7 +730,7 @@ a3_rev, b3_rev = fit(infl[44:63], bal[44:63]) --- mystnb: figure: - caption: "Inflation and Real Balances" + caption: Inflation and Real Balances name: fr_fig104 --- plt.figure() @@ -791,7 +785,7 @@ a3_rev, b3_rev = fit(infl[44:63], bal[44:63]) --- mystnb: figure: - caption: "Inflation and Real Balances" + caption: Inflation and Real Balances name: fr_fig104b --- plt.figure() @@ -822,7 +816,7 @@ line. --- mystnb: figure: - caption: "Inflation and Real Balances" + caption: Inflation and Real Balances name: fr_fig104c --- plt.figure() @@ -867,7 +861,7 @@ line. --- mystnb: figure: - caption: "Inflation and Real Balances" + caption: Inflation and Real Balances name: fr_fig104d --- plt.figure() @@ -912,7 +906,7 @@ Cagan {cite}`Cagan`. --- mystnb: figure: - caption: "Inflation and Real Balances" + caption: Inflation and Real Balances name: fr_fig104e --- plt.figure() @@ -946,7 +940,7 @@ period of the hyperinflation. --- mystnb: figure: - caption: "Inflation and Real Balances" + caption: Inflation and Real Balances name: fr_fig104f --- plt.figure() @@ -993,4 +987,4 @@ This lecture sets the stage for studying theories of inflation and the govern A *monetarist theory of the price level* is described in this quantecon lecture {doc}`cagan_ree`. -That lecture sets the stage for these quantecon lectures {doc}`money_inflation` and {doc}`unpleasant`. +That lecture sets the stage for these quantecon lectures {doc}`money_inflation` and {doc}`unpleasant`.